Iraq’s Current Economic Outlook And How it Can Affect Dinar Value

[yota691]

Iraq’s Current Economic Outlook And How it Can Affect Dinar Value

MARCH 29, 2017 —BY MIKE FOX  

 

After years of economic neglect, poverty for the common man and turmoil in the region, Iraq has finally reached a state of constant economic growth under the democratic leadership in the aftermath of the US invasion in 2003 and the overthrowing of Saddam Hussein’s tyrannical regime.

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Iraq’s Economy is Rising

The main driving force behind Iraq’s economic growth is the wealth of natural resources reflected in a large number of oil and gas fields which are now open to international trade. Companies from around the world are investing into the development of these resources, which is reflected in the country’s ever-increasing oil exports. It seems that Iraq has completely recovered from the damage and downfall it suffered under the rule of Saddam Hussein.

An even greater exploration of Iraq’s oil reserves by international companies will lead to an even bigger tally of the country’s oil wealth, along with its already-known, vast reserves. In addition to all that wealth, Iraq seems to be blessed with geological formations that are perfectly accessible for drilling as opposed to most countries, which significantly brings down the costs of oil extraction.

The most obvious example of Iraq’s production advantages can be seen in the most recent Saudi Arabian oil production war which was designed to bankrupt the US shale-oil producers. And while oil producers in the US have been severely impacted by the overproduction “attack” from Saudi Arabia, Iraq still continues to produce and sell oil profitably.

What does this mean for the Iraqi Dinar?

The value of a nation’s economy, as well as its currency, is directly reflected in its natural resources, and Iraq’s oil reserves are big enough to drive its young democratic economy to prosperity. Given the fact that there is an insatiable need for gas and oil across the world, Iraq is can look forward to constant growth in its ever-growing role of the oil supplier to the world. Although Iraq is not there yet, it is becoming increasingly obvious that the country will take on the role of a regional and international energy super-power given its natural reserves in the near future. In fact, just recently the country’s Minister of Oil stated that Iraq will be able to produce 5 million barrels of oil a day in the second half of 2017.

With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003.

Historically, the new Iraqi Dinar reached an all-time low against USD of 1680 in January of 2004 and a record high of 1106 in December of 2015. Currently trading at 1180. USD/IQD chart from Yahoo Finance.

Additionally, current political events play a key role in predicting the future of any given currency, and the controversial “Muslim ban” instituted by Donald Trump could have had major consequences for the Iraqi economy, had it not been lifted on March 6th this year. This new order to exempt Iraq from the list of banned countries has proven to be very beneficial for the country’s currency with foreign currency investors being able to exchange Iraqi dinar at favorable rates, keeping the country a valuable asset in the foreign exchange market.

All in all, it seems that the Iraqi dinar is looking at a bright future.

In the end, it is important to note that Iraq presents a wealth of investment opportunities in many industries, with the economic rise being driven by oil and gas reserves. These opportunities will become even more apparent in the following years, as the newly-established government continues to offer new possibilities to international investors.

[jg1]

Bump.They forgot the part about the RV

[ReVbo]

48 minutes ago, jg1 said:

Bump.They forgot the part about the RV

No, they didn't. 

 

"With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003."

Edited March 30, 2017 by ReVbo

[DinarThug]

CNN. Broadcasting With A Future So Bright - Even The Camels Gotta Wear Shades !

 

 

(by don961)
http://iraqdailyjournal.com/st.....-z15042637

IRAQ’S CURRENT ECONOMIC OUTLOOK AND HOW IT CAN AFFECT DINAR VALUE

30th March, 2017

After years of economic neglect, poverty for the common man and turmoil in the region, Iraq has finally reached a state of constant economic growth under the democratic leadership in the aftermath of the US invasion in 2003 and the overthrowing of Saddam Hussein’s tyrannical regime.

Iraq’s Economy is Rising

The main driving force behind Iraq’s economic growth is the wealth of natural resources reflected in a large number of oil and gas fields which are now open to international trade. Companies from around the world are investing into the development of these resources, which is reflected in the country’s ever-increasing oil exports. It seems that Iraq has completely recovered from the damage and downfall it suffered under the rule of Saddam Hussein.

An even greater exploration of Iraq’s oil reserves by international companies will lead to an even bigger tally of the country’s oil wealth, along with its already-known, vast reserves. In addition to all that wealth, Iraq seems to be blessed with geological formations that are perfectly accessible for drilling as opposed to most countries, which significantly brings down the costs of oil extraction.

The most obvious example of Iraq’s production advantages can be seen in the most recent Saudi Arabian oil production war which was designed to bankrupt the US shale-oil producers. And while oil producers in the US have been severely impacted by the overproduction “attack” from Saudi Arabia, Iraq still continues to produce and sell oil profitably.

What does this mean for the Iraqi Dinar?
The value of a nation’s economy, as well as its currency, is directly reflected in its natural resources, and Iraq’s oil reserves are big enough to drive its young democratic economy to prosperity. Given the fact that there is an insatiable need for gas and oil across the world, Iraq is can look forward to constant growth in its ever-growing role of the oil supplier to the world. Although Iraq is not there yet, it is becoming increasingly obvious that the country will take on the role of a regional and international energy super-power given its natural reserves in the near future. In fact, just recently the country’s Minister of Oil stated that Iraq will be able to produce 5 million barrels of oil a day in the second half of 2017.

With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003.

Additionally, current political events play a key role in predicting the future of any given currency, and the controversial “Muslim ban” instituted by Donald Trump could have had major consequences for the Iraqi economy, had it not been lifted on March 6th this year. This new order to exempt Iraq from the list of banned countries has proven to be very beneficial for the country’s currency with foreign currency investors being able to exchange Iraqi dinar at favorable rates, keeping the country a valuable asset in the foreign exchange market.

All in all, it seems that the Iraqi dinar is looking at a bright future.

In the end, it is important to note that Iraq presents a wealth of investment opportunities in many industries, with the economic rise being driven by oil and gas reserves. These opportunities will become even more apparent in the following years, as the newly-established government continues to offer new possibilities to international investors.  

 

[Freedomwish]

3 minutes ago, DinarThug said:

With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003.

This statement right here....yup. 

[endeavor1]

Let's doooooo this!!!!!! Like yesterday!!!!!!????

[climber7]

Another perspective 

3-30-2017   Newshound Guru Kaperoni   Article:  "Iraq’s Current Economic Outlook And How it Can Affect Dinar Value"   Quote:  "With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003."   The problem with that statement is the dinar is not artificially low.  It reflects the current exchange rate based on the current conditions.  Remember, Shabibi raised the value already from about 3000 / $1 to 1186 /$1 back in 2004-2005 to reduce inflation.  Until the market economy takes off, IMO we will not the dinar rise the remainder of the way.  To me, making such a statement as "artificially low value"...shows a lack of understanding...

 

Key sentence

  The problem with that statement is the dinar is not artificially low.  It reflects the current exchange rate based on the current conditions.

[Synopsis]

Thank You, DinarThug, for this and all the other great posts!

The article states, "The main driving force behind Iraq’s economic growth is the wealth of natural resources reflected in a large number of oil and gas fields which are now open to international trade. Companies from around the world are investing into the development of these resources, which is reflected in the country’s ever-increasing oil exports."

Say what???!!!

Iraq now doing international trading? How? Where's the memo on Iraq ascending as a full WTO trade partner? Or do they need to be to do this? Hey, I thought Iraq needs an internationally traded currency to be a full WTO trade partner???!!! International investment? What is going on here?

Looks like so much smokin' good news today that it is hard to believe and take it all in! Or is it just me?

      

Go Moola Nova!

[Mask Phantom]

35 minutes ago, Synopsis said:

Thank You, DinarThug, for this and all the other great posts!

The article states, "The main driving force behind Iraq’s economic growth is the wealth of natural resources reflected in a large number of oil and gas fields which are now open to international trade. Companies from around the world are investing into the development of these resources, which is reflected in the country’s ever-increasing oil exports."

Say what???!!!

Iraq now doing international trading? How? Where's the memo on Iraq ascending as a full WTO trade partner? Or do they need to be to do this? Hey, I thought Iraq needs an internationally traded currency to be a full WTO trade partner???!!! International investment? What is going on here?

Looks like so much smokin' good news today that it is hard to believe and take it all in! Or is it just me?

      

Go Moola Nova!

I'm with you synopsis. ...let's goooooooo

[Goggles]

 

GO RV!!!!!!     

[6ly410]

[davis411]

1 hour ago, Freedomwish said:

This statement right here....yup. 

today today today

say three times

could be today

me I say it and candyman shows up and cuts my arms off

[Freedomwish]

1 hour ago, Synopsis said:

Looks like so much smokin' good news today that it is hard to believe and take it all in! Or is it just me?

      

Go Moola Nova!

It's not you, this baby is coming......be ready! 

20 minutes ago, davis411 said:

today today today

say three times

could be today

me I say it and candyman shows up and cuts my arms off

Today, Today, Today, could be Today - no, no candyman but me showing up on your doorstep with a quart to share and celebrate with you my friend!! 

CHEEEEEEEERS!! 

[Synopsis]

14 minutes ago, Freedomwish said:

It's not you, this baby is coming......be ready! 

Today, Today, Today, could be Today - no, no candyman but me showing up on your doorstep with a quart to share and celebrate with you my friend!! 

CHEEEEEEEERS!! 

Best Of The Rest Of The Day To You, FreedomWish!

Go Moola Nova!

[okane]

boil some water and rip some sheets!, we're going to have a baby!

[Synopsis]

3 minutes ago, Botzwana said:

Hey Snop!  I do not think that is true.  Vietnam and Afganistan are members of the WTO and they do NOT have an international tradable currency

Hey Borzwana!

You could be right! However, each country is different in how the world views them. My opinion is Iraq is being strategically placed for specific reasons based on Iraq's unique resources, geographic location, and capabilities. To me, though, the things I highlighted support my disposition of favorable outcomes that could happen very, very soon.

Go Moola Nova!

[alreis]

Have not heard the circumferential challenged female sing yet!

[Wiljor]

After years of economic neglect, poverty for the common man and turmoil in the region, Iraq has finally reached a state of constant economic growth under the democratic leadership in the aftermath of the US invasion in 2003 and the overthrowing of Saddam Hussein’s tyrannical regime.

Iraq, March 30, 2017  Iraq’s Economy is Rising The main driving force behind Iraq’s economic growth is the wealth of natural resources reflected in a large number of oil and gas fields which are now open to international trade. Companies from around the world are investing into the development of these resources, which is reflected in the country’s ever-increasing oil exports. It seems that Iraq has completely recovered from the damage and downfall it suffered under the rule of Saddam Hussein.  An even greater exploration of Iraq’s oil reserves by international companies will lead to an even bigger tally of the country’s oil wealth, along with its already-known, vast reserves. In addition to all that wealth, Iraq seems to be blessed with geological formations that are perfectly accessible for drilling as opposed to most countries, which significantly brings down the costs of oil extraction.  The most obvious example of Iraq’s production advantages can be seen in the most recent Saudi Arabian oil production war which was designed to bankrupt the US shale-oil producers. And while oil producers in the US have been severely impacted by the overproduction “attack” from Saudi Arabia, Iraq still continues to produce and sell oil profitably.  What does this mean for the Iraqi Dinar? The value of a nation’s economy, as well as its currency, is directly reflected in its natural resources, and Iraq’s oil reserves are big enough to drive its young democratic economy to prosperity. Given the fact that there is an insatiable need for gas and oil across the world, Iraq is can look forward to constant growth in its ever-growing role of the oil supplier to the world. Although Iraq is not there yet, it is becoming increasingly obvious that the country will take on the role of a regional and international energy super-power given its natural reserves in the near future. In fact, just recently the country’s Minister of Oil stated that Iraq will be able to produce 5 million barrels of oil a day in the second half of 2017.  With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003.  Additionally, current political events play a key role in predicting the future of any given currency, and the controversial “Muslim ban” instituted by Donald Trump could have had major consequences for the Iraqi economy, had it not been lifted on March 6th this year. This new order to exempt Iraq from the list of banned countries has proven to be very beneficial for the country’s currency with foreign currency investors being able to exchange Iraqi dinar at favorable rates, keeping the country a valuable asset in the foreign exchange market.  All in all, it seems that the Iraqi dinar is looking at a bright future. In the end, it is important to note that Iraq presents a wealth of investment opportunities in many industries, with the economic rise being driven by oil and gas reserves. These opportunities will become even more apparent in the following years, as the newly-established government continues to offer new possibilities to international investors.  http://iraqdailyjournal.com/story-z15042637

[Palmtree1970]

Great article !!! Now show me the money $$$$$$$$$$$$$

[Mask Phantom]

Great article. ...and I agree Botzwana.....timing is of the essence. 

[Gypsygirl11]

This article is very encouraging.  Did I mIss the time line WHEN they think the Dinar will rise?  Hopefully 2017 is our year!

[davis411]

On ‎4‎/‎2‎/‎2017 at 9:35 AM, Gypsygirl11 said:

This article is very encouraging.  Did I mIss the time line WHEN they think the Dinar will rise?  Hopefully 2017 is our year!

sorry april 2017

u didn't spell out right

I corrected u

Edited April 5, 2017 by davis411

[Gypsygirl11]

Lol Davis.....I thought for sure you would make a comment about the word RISE, ha ha ha.

Lord II hope your right!!!!!! April sounds real good to me.

[dinareffic]

I've said it on other threads. But I really think April 30 is it. Jmo 

[Freedomwish]

18 hours ago, dinareffic said:

I've said it on other threads. But I really think April 30 is it. Jmo